New American Mortgage has a new conventional loan product! It offers only 3.00% down, compared to the normal 5.00% minimum requirement. This is a great alternative program for buyers who are looking to purchase, but may not have enough down payment for the other programs.
What are some of the requirements?
You will see most of the same requirements as other loan types.
Some additional requirements include:
-No other properties owned
-Two months reserve payment (whether it be liquid or retirement)
-680 Credit score
For additional information, contact me today!
Danielle Hifko
New American Mortgage
910-581-6398
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